i-80 Gold Drilling Returns Best Intercept To-Date in the South Pacific Zone at Granite Creek 16.3 g/t Au over 15.7m and 33.7 g/t over 3.7m in hole iGS21-18
i-80 Gold Drilling Returns Best Intercept To-Date in the South Pacific Zone
at Granite Creek 16.3 g/t Au over 15.7m and 33.7 g/t over 3.7m in hole
iGS21-18
RENO, Nev.
,
May 3, 2022
/CNW/ -
i-80 GOLD CORP.
(TSX: IAU) (OTCQX: IAUCF)
("i-80", or the "Company")
is pleased to announce results from the final
hole drilled in the Phase 1, 2021, surface drill program focused on delineating the high-grade "South Pacific" extension horizon at the Company's Granite Creek
Property ("
Granite Creek
" or "
the Property
") located in
Humboldt County, Nevada
.
The South Pacific Zone ("
SPZ
") is a new zone of high-grade gold mineralization located immediately north of the underground mine workings at Granite Creek
(see Figure 1). In 2021, sixteen (16) holes were drilled to test the SPZ (including one hole that was abandoned prior to reaching target depth), successfully
defining multiple fault structures that are demonstrating continuity of mineralization over a strike length of approximately 600 metres and a dip length of
approximately 250 metres that remains wide open for expansion along strike and at depth. Hole iGS21-18 was drilled in the southern portion of the horizon, closer
to the underground workings, and as in several previous holes returned impressive gold grades and widths of mineralization in multiple horizons.
Highlight results from hole iGS21-18 in the South Pacific Zone (and adjacent horizons):
16.3 g/t Au over
15.7 m
(0.48 oz/ton Au over 51.5 feet)
33.7 g/t Au over
3.7 m
(0.98 oz/ton Au over 12.0 feet)
The SPZ is the priority target of the ongoing surface drill program at Granite Creek and will be included in a resource update following the 2022 program. SPZ
consists of multiple subvertical fault structures located within both the Upper and Lower Comus rock units that appear to trend north to northeast (see Figures 1
and 2). Continued step-out drilling to expand mineralization both along strike and at depth is being completed in 2022. Table 1 provides a complete summary of
results from drilling in the SPZ in 2021.
"When combined with the Ogee Zone, that is the focus of underground drilling at Granite Creek, we are extremely excited by the results to-date in the South
Pacific Zone that confirm the significant upside opportunity", stated
Tyler Hill
, Senior Geologist of i-80. "Drilling in 2022 will continue to step-out along strike and at
depth to further expand the mineralized envelope, while at the same time, we are extending the decline to expedite development and mine planning of the SPZ."
High-grade mineralization at Granite Creek occurs in a near-identical geological setting as that at the multi
million
ounce Turquoise Ridge Mine located immediately
to the north (see Figure 3); proximal to a major regional fault (the Getchell or Range Front fault) on the eastern edge of the large Osgood Mountains intrusive
complex. The Granite Creek deposit remains open at depth and along strike from the existing underground workings.
Table 1 – Summary Assay Results from 2021 Surface Drilling in SPZ
2021 Drill Results from Granite Creek, estimated true widths 60-90%
Drillhole ID
Type
From (m)
To (m)
Length (m)
Au (g/t)
iGS21-01
Core
386.6
392.7
6.1
12.8
iGS21-03
Core
391.4
398.5
7.1
16.3
iGS21-04
Core
288.0
289.6
1.5
37.36
And
Core
326.3
329.8
3.4
16.4
And
Core
336.7
337.9
1.2
44.14
And
Core
468.3
478.5
10.2
14.7
iGS21-05
Core
398.4
403.7
5.3
16.5
And
Core
444.7
451.4
6.7
5.1
iGS21-06
Core
418.5
422.1
3.6
1.8
iGS21-07
Core
352.0
355.9
3.8
17.2
And
Core
368.1
371.6
3.4
22.0
iGS21-08
Core
356.2
360.9
4.8
8.0
And
Core
419.7
423.5
3.8
10.5
And
Core
517.6
522.1
4.6
6.3
And
Core
535.5
537.5
2.0
11.9
iGS21-09
Core
390.1
391.5
1.4
6.2
And
Core
422.5
423.5
1.1
5.9
iGS21-10
Core
424.6
428.8
4.2
17.2
And
Core
433.1
434.0
0.9
12.6
iGS21-11
Core
416.4
417.6
1.2
9.7
And
Core
436.5
442.0
5.5
25.5
iGS21-12
Core
389.5
391.1
1.5
5.4
And
Core
441.8
451.0
9.1
11.0
Including
Core
442.6
448.1
5.5
15.5
iGS21-16
Core
357.5
358.4
3.0
8.7
And
Core
364.8
365.8
1.0
51.5
And
Core
381.3
383.4
2.1
13.8
And
Core
395.3
397.5
2.2
25.2
And
Core
477.6
479.5
1.8
9.0
iGS21-17
Core
388.5
391.4
2.9
6.1
And
Core
413.5
416.0
2.5
9.9
iGS21-18
Core
264.3
265.7
1.4
11.3
And
Core
267.6
269.4
1.9
6.7
And
Core
305.1
308.8
3.7
33.7
And
Core
454.9
470.6
15.7
16.3
iGS21-19
Core
322.9
326.9
4.0
9.7
And
Core
355.1
365.3
10.0
10.2
And
Core
372.6
378.3
5.6
13.7
And
Core
413.5
416.0
10.5
15.3
iGS21-20
Core
338.6
343.4
4.7
13.7
And
Core
370.3
373.4
3.0
17.6
Table 1a - Collar Coordinates for all 2021 holes drilled in SPZ
UTM
Drillhole ID
East m
North m
Elevation m
Azimuth
Dip
NAD83 Zone 11
iGS21-01
478579
4554235
1466
308
-46
iGS21-03
478323
4554119
1556
352
-55
iGS21-04
478323
4554116
1556
340
-64
iGS21-05
478327
4554119
1554
351
-59
iGS21-06
478325
4554119
1554
338
-59
iGS21-07
478541
4554160
1472
315
-46
iGS21-08
478541
4554161
1472
311
-48
iGS21-09
478578
4554235
1466
315
-45
iGS21-10
478579
4554416
1550
280
-67
iGS21-11
478579
4554414
1550
286
-73
iGS21-12
478580
4554411
1549
265
-67
iGS21-16
478545
4554162
1472
302
-52
iGS21-17
478596
4554486
1552
270
-60
iGS21-18
478346
4554164
1556
306
-69
iGS21-19
478347
4554164
1557
340
-71
iGS21-20
478347
4554164
1557
323
-58
Figure 1 – Long Section View (CNW Group/i-80 Gold Corp)
Figure 2 – Oblique Surface Plan View (CNW Group/i-80 Gold Corp)
Figure 3 – Property Location Map (CNW Group/i-80 Gold Corp)
The Granite Creek Property is strategically located proximal to
Nevada Gold Mines'
Turquoise Ridge and Twin Creeks mines at the north end of the Battle
Mountain-Eureka Trend, at its intersection with the Getchell gold belt in
Nevada
.
Investor Day Webcast & Conference Call –
May 10, 2022
The Company will host an Investor Day presentation in person at the
Toronto
Board of Trade on
May 10, 2022
, commencing at 4:30 pm EDT, providing the
opportunity for shareholders, analysts and investors to learn more about the Company's growth plans and ask questions of i-80 Gold's executive team. A live
conference call and webcast will also be available to those that are unable to attend in person. Details of the conference call and webcast can be found below.
Conference Call
North American Toll-free: 1-888-204-4368
Confirmation #: 3896886
Webcast Link
Click
HERE
to access the webcast or visit our website at
www.i80gold.com
.
Conference Call Replay
A recording of the call can be accessed until
May 17, 2022
.
North American Toll-free Replay: 1-888-203-1112
Replay Code: 3896886
QAQC Procedures
All samples were submitted to ALS Minerals (ALS) of
Sparks, NV
, which is ISO 9001 and 17025 certified and accredited laboratories, independent of the
Company. Samples submitted through ALS are run through standard prep methods and analyzed using Au-AA23 (Au; 30g fire assay) and ME-ICP41 (35 element
suite; 0.5g Aqua Regia/ICP-AES) for ALS. ALS also undertakes their own internal coarse and pulp duplicate analysis to ensure proper sample preparation and
equipment calibration. i-80 Gold Corp's QA/QC program includes regular insertion of CRM standards, duplicates, and blanks into the sample stream with a
stringent review of all results.
Qualified Person
Tim George, PE, Mine Operations Manager, reviewed the technical and scientific information contained in this press release and is a Qualified Person within the
meaning of NI 43-101.
About i-80 Gold Corp.
i-80 Gold Corp.
is a well-financed, Nevada-focused, mining company with a goal of achieving mid-tier gold producer status through the development of multiple
deposits within the Company's advanced-stage property portfolio to complement existing gold production from the Ruby Hill open pit.
Certain statements in this release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws,
including but not limited to, the expansion or mineral resources at Granite Creek and the potential of the Granite Creek project. Such statements and information
involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company, its projects, or
industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or
information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate",
"estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will"
be taken, occur or be achieved. These statements reflect the Company's current expectations regarding future events, performance and results and speak only as
of the date of this release.
Forward-looking statements and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results and will
not necessarily be accurate indicators of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the
results discussed in the forward-looking statements or information, including, but not limited to: material adverse changes, unexpected changes in laws, rules or
regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest;
changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued
exploration, studies, development or operations.
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%SEDAR: 00052022E
For further information:
Ewan Downie - CEO; Matt Gili - President & COO; Matthew Gollat - EVP Business & Corporate Development, 1.866.525.6450,
[email protected], www.i80gold.com
CO: i-80 Gold Corp
CNW 06:00e 03-MAY-22